Stabilization of Deutsche Lufthansa AG successfully completed
- Economic Stabilization Fund sells remaining shares and ends stabilization with a surplus
- Lufthansa fully back in private hands
The Economic Stabilization Fund of the Federal Republic of Germany (WSF) announced yesterday that all the remaining shares of its holding in Deutsche Lufthansa AG had been sold to various investors via an accelerated bookbuilding process. The WSF last held around 6.2 percent of the company’s share capital (74.4 million shares). The WSF had acquired its original shareholding of 20 percent of the share capital of Deutsche Lufthansa AG for EUR 306 million in the summer of 2020. It was agreed at the time that the holding would be sold by October 2023 at the latest.
Deutsche Lufthansa AG had already repaid all the loans and deposits it had received from the German government ahead of schedule in November 2021.
Following the sale of its remaining shares, the WSF no longer holds any equity stake in Deutsche Lufthansa AG. As a result, all remaining conditions will now also end.
Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG, says:
“On behalf of all Lufthansa employees, I would like to thank the current and previous German government and all German taxpayers for their support of our Lufthansa during the most severe financial crisis in our company’s history. The stabilization of Lufthansa was successful, and is also paying off financially for the German government and thus for the taxpayer. We had already repaid the stabilization loan amounts earlier than expected; and the WSF has now also sold its last remaining shares one year before the deadline. This brings the stabilization of Lufthansa to a successful conclusion. Lufthansa is once again fully in private hands. All Lufthansa employees worldwide will continue to work hard to strengthen our position among the world’s leading airline groups, for example through a broad-based premium product and quality offensive.”